Insurance and financial services in India
India: Insurance and financial services was 2.9% in 2025. ▲ Rising
Insurance and financial services in India, 1975–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2025, insurance and financial services in India stood at 2.9%. That is the lowest value across all 51 years on record.
The figure is down 23.1% on the previous year and down 43.3% over ten years.
Over the whole period, insurance and financial services in India peaked at 12.9% in 2001 and was at its lowest, 2.9%, in 2025.
That places India 157th out of 197 countries with data for 2025, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 51 years of available data.
Insurance and financial services in India, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1975 | 5.6% | — |
| 1976 | 4.7% | -15.1% |
| 1977 | 5.0% | +4.5% |
| 1978 | 5.5% | +10.8% |
| 1979 | 5.2% | -4.7% |
| 1980 | 5.3% | +0.6% |
| 1981 | 4.9% | -6.3% |
| 1982 | 4.7% | -4.5% |
| 1983 | 4.4% | -7.0% |
| 1984 | 4.7% | +6.9% |
| 1985 | 4.7% | +0.8% |
| 1986 | 4.7% | -1.3% |
| 1987 | 4.5% | -4.4% |
| 1988 | 5.0% | +12.6% |
| 1989 | 5.7% | +12.7% |
| 1990 | 5.6% | -0.1% |
| 1991 | 5.9% | +4.1% |
| 1992 | 6.0% | +1.7% |
| 1993 | 6.8% | +12.9% |
| 1994 | 6.0% | -11.2% |
| 1995 | 5.4% | -9.2% |
| 1996 | 5.3% | -3.4% |
| 1997 | 5.2% | -0.6% |
| 1998 | 4.3% | -17.3% |
| 1999 | 3.6% | -17.7% |
| 2000 | 10.9% | +206.3% |
| 2001 | 12.9% | +18.3% |
| 2002 | 11.1% | -14.2% |
| 2003 | 6.6% | -39.9% |
| 2004 | 7.2% | +7.8% |
| 2005 | 6.8% | -5.3% |
| 2006 | 7.9% | +16.4% |
| 2007 | 9.2% | +15.9% |
| 2008 | 8.4% | -8.4% |
| 2009 | 9.5% | +13.5% |
| 2010 | 10.4% | +9.3% |
| 2011 | 12.5% | +20.6% |
| 2012 | 8.5% | -32.4% |
| 2013 | 8.9% | +5.3% |
| 2014 | 6.5% | -27.3% |
| 2015 | 5.2% | -20.7% |
| 2016 | 6.6% | +27.9% |
| 2017 | 6.9% | +4.9% |
| 2018 | 4.5% | -34.8% |
| 2019 | 3.2% | -28.7% |
| 2020 | 5.6% | +75.2% |
| 2021 | 5.6% | -0.5% |
| 2022 | 4.7% | -17.0% |
| 2023 | 4.1% | -11.9% |
| 2024 | 3.8% | -7.4% |
| 2025 | 2.9% | -23.1% |
India compared with similar countries
- India's 2.9% is below the median for lower middle income countries, which is 6.5%, 45% of the median. (47 countries reporting)
- India's 2.9% is below the median for South Asia, which is 4.9%, 59% of the median. (6 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in India changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2000 | +206.3% | 3.6% | 10.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.2% | 4.7% | 5.6% | 5 |
| 1980s | 4.8% | 4.4% | 5.7% | 10 |
| 1990s | 5.4% | 3.6% | 6.8% | 10 |
| 2000s | 9.0% | 6.6% | 12.9% | 10 |
| 2010s | 7.3% | 3.2% | 12.5% | 10 |
| 2020s | 4.5% | 2.9% | 5.6% | 6 |
Countries ranked near India
More economy & growth data for India
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 5.66 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 6.5 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 35.69 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.009 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 24.38 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 39.10 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 44.06 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0099 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 26.71 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 8.87 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in India?
- Insurance and financial services in India was 2.9% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in India?
- The highest recorded value was 12.9% in 2001.
- What is the lowest insurance and financial services recorded in India?
- The lowest recorded value was 2.9% in 2025.
- How does India rank for insurance and financial services?
- India ranks 157th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in India?
- Over the last ten years it is down 43.3%. The long-run trend across the full record is rising.
- Where does this India data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of service imports, BoP). Statizoid updates them automatically from the source API.
Download this data
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About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service imports which are services provided by non-residents to residents.